Summit Group

Summit Group is a Bangladeshi conglomerate whose principal activities have developed around energy and power, while also extending into communications, shipping, trading, finance, property, and technology infrastructure. The group is associated with Summit Power Limited and Summit Power International, as well as a network of operating and investment companies in Bangladesh and Singapore. The group's power business began with the establishment of Summit Power Limited in Dhaka on 30 March 1997. Muhammed Aziz Khan is identified as Summit's founding chairman. Summit Power subsequently became a public limited company in June 2004, creating a more formal platform for the group's generation activities. Over time, the business assembled a portfolio of plants and projects in locations including Bibiyana, Meghnaghat, Gazipur, Barisal, Narayanganj, Ashulia, Maona, Madhabdi, Jangalia, Chandina, Rupganj, and Ullapara. Energy infrastructure has been the group's most visible area of expansion. Summit has developed and financed gas-fired power projects, worked with international equipment and financing partners, and pursued liquefied natural gas infrastructure. Its LNG activities included a proposed terminal at Moheshkhali, developed with Mitsubishi Corporation, and the group began supplying liquefied natural gas to Bangladesh's national grid in April 2019. Summit's energy partnerships have included Wärtsilä, General Electric, the World Bank, Standard Chartered Bank, China Energy Group, JERA, Clifford Capital, Sumitomo Mitsui Banking Corporation, and other financial or industrial institutions. The group has also operated in telecommunications infrastructure. Summit Communications received a nationwide telecommunications transmission-network licence from the Bangladesh Telecommunication Regulatory Commission in 2009 and developed what the reference material describes as Bangladesh's largest fibre-optic cable network. Other group interests have included shipping through Summit Shipping, trading and industrial activities through Summit Industrial & Mercantile Corporation and related companies, property and development, finance, and technology-park development. Summit has used joint ventures, project finance, equity investments, and corporate mergers to expand its portfolio. In 2016, it created Summit Technopolis with India's Infinity Infotech Parks Limited to develop a hi-tech park in Gazipur, and consolidated several power subsidiaries under Summit Power. In 2019, JERA acquired a 22 percent stake in Summit Power International, while the parties announced further investment plans in Bangladesh's power sector. Summit later arranged financing for the Summit Gazipur II project and established the Hamiduzzaman Sculpture Park at its Gazipur power facility. The group has also attracted public scrutiny. In 2007, Bangladesh's Anti-Corruption Commission filed a case alleging that former Prime Minister Sheikh Hasina accepted a bribe connected with approval of a 100-megawatt Khulna power plant. Muhammed Aziz Khan was among the people named in the case. The allegation is presented here as a reported legal case, not as a finding of guilt. In later coverage, Summit was identified as one of Bangladesh's largest recipients of government capacity-charge payments, reflecting the financial and policy importance of private power generation in the country. Summit Group's current status, ownership structure, complete executive roster, and official corporate website are not established by the supplied reference material. Its documented profile is that of a diversified Bangladeshi business group with power generation and energy infrastructure at its core, supported by communications, logistics, trading, financial, real-estate, and technology-related activities.

Summit Group's documented corporate history is closely tied to the growth of private power generation and infrastructure investment in Bangladesh. Summit Power Limited was established in Dhaka on 30 March 1997, with Muhammed Aziz Khan identified as its founding chairman. The company became a public limited company on 7 June 2004, providing a formal corporate vehicle for the development and operation of power assets. The group's early history also includes legal controversy. In September 2007, Bangladesh's Anti-Corruption Commission filed a case alleging that former Prime Minister Sheikh Hasina had accepted a BDT 30 million bribe from Summit Group, Wärtsilä, and United Group in return for approving a 100-megawatt power plant in Khulna. The case named several individuals, including Muhammed Aziz Khan. The supplied reference material does not establish the final disposition of the allegations. Summit expanded beyond power generation through telecommunications. In 2009, Summit Communications obtained a nationwide telecommunications transmission-network licence from the Bangladesh Telecommunication Regulatory Commission. It subsequently laid what the reference describes as Bangladesh's largest fibre-optic cable network, positioning the group as an infrastructure provider in both electricity and communications. International financing and industrial partnerships became important to the group's power strategy. In 2011, Summit signed an agreement with the World Bank to finance the purchase of General Electric equipment for the Bibiyana power plant. In 2012, it entered an energy-sector cooperation agreement with China Energy Group. Taiyo Life Insurance acquired a 12.6 percent interest in the Meghnaghat power plant in 2013, and Standard Chartered Bank provided a US$190 million loan in 2014 for a Narayanganj District project being developed by Summit Meghnaghat Power Company Limited. In 2016, Summit formed Summit Technopolis with Infinity Infotech Parks Limited of India to develop a hi-tech park in Gazipur. The same year, Summit consolidated several power subsidiaries under Summit Power, including Summit Purbanchol Power Company, Summit Narayanganj Power, and Summit Uttaranchal Power Company. In 2017, the group arranged further financing for power projects, agreed with Bangladesh Power Development Board to develop a 149-megawatt plant in Gazipur, and obtained permission to establish a liquefied natural gas terminal at Moheshkhali with Mitsubishi Corporation. The proposed terminal was associated in the reference material with a planned investment of US$3 billion and a 15-year tax exemption. Summit's LNG ambitions moved into operations in April 2019, when the group began supplying liquefied natural gas to Bangladesh's national grid. Later that year, JERA acquired 22 percent of Summit Power International for US$330 million. The transaction was accompanied by plans for substantial future investment in Bangladesh's power sector and a proposed US$500 million joint investment in the Matarbari Power Plant. The group continued to finance and develop generation capacity in 2020, obtaining US$140 million from Clifford Capital and Sumitomo Mitsui Banking Corporation for Summit Gazipur II Power Plant. It also established the Hamiduzzaman Sculpture Park at its Gazipur power plant, adding a cultural and public-facing element to the industrial site. Summit Group's documented business portfolio includes Summit Power, Summit Communications, Summit Shipping, trading and industrial companies, developers, towers, finance entities, and Summit Technopolis. Its project list covers power plants and proposed energy facilities across multiple Bangladeshi districts. The supplied material does not provide a complete account of the group's present ownership, executive structure, revenue, or current operating status, but it portrays Summit as a major Bangladeshi infrastructure conglomerate centered on electricity and energy logistics.

• 2019

  LNG supply to the national grid begins

  [1]Summit Groupen.wikipedia.org

  Summit began supplying liquefied natural gas to Bangladesh's national grid in April 2019.

• 2019

  JERA takes a minority stake

  [1]Summit Groupen.wikipedia.org

  JERA acquired a 22 percent interest in Summit Power International.

• 2016

  Summit Technopolis is formed

  [1]Summit Groupen.wikipedia.org

  Summit partnered with Infinity Infotech Parks Limited to create Summit Technopolis for hi-tech-park development in Gazipur.

• 2009

  Nationwide telecommunications transmission licence obtained

  [1]Summit Groupen.wikipedia.org

  Summit Communications received a nationwide transmission-network licence from Bangladesh's telecommunications regulator.

• 2004

  Summit Power becomes a public limited company

  [1]Summit Groupen.wikipedia.org

  Summit Power was converted into a public limited company on 7 June 2004.

• 1997

  Summit Power Limited is established

  [1]Summit Groupen.wikipedia.org

  Summit Power Limited was established in Dhaka on 30 March 1997, forming the documented foundation of Summit's power-generation business.

A diversified Bangladeshi infrastructure and industrial conglomerate with a strong emphasis on power generation, energy logistics, and national communications infrastructure.

• Electricity generation · 1997

  Summit Power generation

  Summit's core business is the development and operation of power plants in Bangladesh. The documented portfolio includes projects associated with Bibiyana, Meghnaghat, Gazipur, Barisal, Narayanganj, Ashulia, Maona, Madhabdi, Jangalia, Chandina, Rupganj, and Ullapara. The plants and projects use project finance, equipment partnerships, and agreements with public-sector power institutions.

• LNG infrastructure · 2017

  Summit LNG Terminal

  The Summit LNG Terminal is an energy-infrastructure project associated with a proposed liquefied natural gas terminal at Moheshkhali. Summit pursued the project with Mitsubishi Corporation and later began supplying LNG to Bangladesh's national grid in 2019. The supplied material does not provide a complete current status of the terminal project.

• Telecommunications infrastructure · 2009

  Summit Communications fibre-optic network

  Summit Communications operates in telecommunications transmission infrastructure. After receiving a nationwide licence from Bangladesh's telecommunications regulator in 2009, it developed a large fibre-optic cable network intended to support national transmission connectivity.

• Technology-park development · 2016

  Summit Technopolis

  Summit Technopolis was formed as a joint venture between Summit Group and India's Infinity Infotech Parks Limited. Its stated purpose was to develop a hi-tech park in Gazipur, extending Summit's infrastructure portfolio into technology-oriented real estate and business-park development.

• 2007

  Alleged bribery case concerning Khulna power-plant approval

  Bangladesh's Anti-Corruption Commission filed a case alleging that former Prime Minister Sheikh Hasina accepted a BDT 30 million bribe linked to approval of a 100-megawatt Khulna power plant. Summit Group, Wärtsilä, United Group, and several individuals were named in the allegations. The supplied material does not state the final legal outcome.

  Source

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• 2019

  Sale of minority stake to JERAM&A

  Background

  Summit sought international capital and strategic support for expansion in Bangladesh's power sector.

  Action taken

  JERA acquired 22 percent of Summit Power International for US$330 million.

  Aftermath

  The parties announced plans for additional investment in Bangladesh's power sector, including a proposed joint investment in the Matarbari Power Plant.

  Equity transaction value. US$330 million for a 22 percent stake (2019)

  Source

• 2016

  Consolidation of power subsidiariesM&A

  Background

  Summit had several power subsidiaries operating or developing generation assets in Bangladesh.

  Action taken

  Summit merged Summit Purbanchol Power Company, Summit Narayanganj Power, and Summit Uttaranchal Power Company under Summit Power.

  Aftermath

  The consolidation created a more centralized corporate structure for the group's power activities.

  Source

• 2026.08.27

  Reported2026.08.27

  FHA launches 33-hectare site-and-service housing scheme in Osogbo with Summit Group[2]联邦住房管理局与Summit集团在奥索博启动33公顷住房计划thesun.ng

  The Federal Housing Authority (FHA) launched a 33-hectare site-and-service housing scheme in Osogbo, Osun State, in partnership with Summit Group Ltd. The mixed-use development will include residential units, commercial spaces and recreational centres, and the FHA also announced that 300 housing units in Bwari are ready for commissioning.

• 2020.04.22

  Summit receives $140 million in project financing[3]Summit获得1.4亿美元项目融资thedailystar.net

  Summit Group received $140 million in long-term project financing from Clifford Capital and Sumitomo Mitsui Banking Corporation for its 300-megawatt Summit Gazipur II Power Plant in Bangladesh.

Read more

1. 1Summit Groupen.wikipedia.org
2. 2联邦住房管理局与Summit集团在奥索博启动33公顷住房计划thesun.ng
3. 3Summit获得1.4亿美元项目融资thedailystar.net